Sarawak Oil Palm

9M ended 30th Sept 2011
Sarawak Oil Palm

Balance Sheet
Assets
NCA  1,306.091m
CA  651.179m
Total Assets  1,957.270m

Equity and Liabilities
Total Equity  1,306.580m
NCL 462.435m
CL 188.254m
Total Liabilities 650.689m
Total Equity and Liabilities 1,957.270m

Net asset per share (RM) 2.69

Cash and bank balances 476.221m
LT Borrowings 341.398m
ST Borrowings 30.755m


Income Statement
Revenue 852.724m
Gross Profit 316.313m
PBT 297.728m
PAT 220.269m

Profit attributable to
Owners of the parent 199.626m

Finance costs (5.121m)
Tax paid (77,459m)

EPS to equity holders of parent (sen)
Basic  46.17
Diluted 45.42

Dividend on ordinary shares
At 1 January 2011  (13.004m)
At 1 January 2010 (9.659m)


Cash Flow Statement
PBT 298.145m
Op Profit before working cap changes 339.695m

Net cash from operating activities  228.706m
Net cash used in investing activities (155.118m)
Net cash generated from financing activities 33.939m

Capital Exp (Acquisition of PPE) (162.682m)
FCF 66.024m



Explanatory Notes To The Interim Report – 30 September 2011
B. BMSB Listing Requirements (Part A of Appendix 9B)

B1. Review of performance 
The Group registered a total revenue of RM852.7 million for period ended 30 September 2011 compared with RM515.6 million reported in the corresponding period in year 2010.  The increase of RM337.1 million in revenue was mainly attributed to the higher average Crude Palm Oil (CPO) and Palm Kernel (PK) prices realized and sales volume during the period.  The sales volume for CPO and PK increased by 47,183 mt or 28% and 10,549 mt or 31% respectively compared to previous year corresponding period.

In line with the increase in total revenue, the Group registered a profit before tax for the period of RM297.7 million.  This represents an increase of 95.1% or RM145.1 million compared to RM152.6 million achieved during the corresponding period in year 2010.

B2. Material changes in profit before taxation for the quarter as compared with the immediate 
preceding quarter 
For the quarter under review, the Group registered a lower profit before tax of RM103.8 million compared to RM112.6 million in the previous quarter due to softening of the CPO and PK prices realized, despite an increase of volume of CPO sold by 20,032 mt or 28%.

The average selling price of CPO and PK realized for the current quarter were RM3,166 and RM2,034 per mt respectively.

B3. Prospects for the current financial year 
The performance of the Group is largely dependent on developments in the world edible oil market, bio-diesel market, fossil oil market, movement of Ringgit Malaysia, world economic situation and their corresponding effect on CPO price.



B9. Borrowing and debt securities 
30 September 2011
RM’000
Current
      Secured  20,791
      Unsecured  9,964
Non-current
      Secured  336,314
      Unsecured  5,084
Total  372,153
The above borrowings are denominated in Ringgit Malaysia.


Basic earnings per share 
The calculation of basic earnings per share for the quarter is based on the profit attributable to equity holders of the parent of RM75.1 million and on the weighted average number of ordinary shares of RM1 each in issue during the period of 433,777,699.


Diluted earnings per share 
The diluted earning per share for the quarter is based on the profit attributable to equity holders of the parent of RM75.1 million and on the weighted average number of ordinary shares of RM1 each in issue during the period of 440,911,509. 

Market price MR 4.66 (25.11.2011)
Market capitalisation  440.911509m x MR 4.66 = 2,054.65m

Company Name	:	SARAWAK OIL PALMS BERHAD
Stock Name	:	SOP
Date Announced	:	25/11/2011

Financial Year End	:	31/12/2011
Quarter	:	3
Quarterly report for the financial period ended	:	30/09/2011
The figures	:	have not been audited

Converted attachment :

Please attach the full Quarterly Report here:

SOPB BMSB 3rd quarter_2011.pdf

Currency	:	Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION

30/09/2011

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2011	30/09/2010	30/09/2011	30/09/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	326,055	213,000	852,724	515,568
2	Profit/(loss) before tax	103,780	73,159	297,728	152,625
3	Profit/(loss) for the period	82,266	54,633	220,269	112,058
4	Profit/(loss) attributable to ordinary equity holders of the parent	75,136	49,405	199,626	102,771
5	Basic earnings/(loss) per share (Subunit)	17.32	11.46	46.17	23.91
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.6900		2.2600

Remarks : Market Watch Recent Financial Results Announcement Date Financial Yr. End Qtr Period End Revenue RM '000 Profit/Lost RM'000 EPS Amended 25-Nov-11 31-Dec-11 3 30-Sep-11 326,055 82,266 17.32 - 26-Aug-11 31-Dec-11 2 30-Jun-11 288,185 76,892 15.92 - 12-May-11 31-Dec-11 1 31-Mar-11 238,484 61,111 12.84 - 25-Feb-11 31-Dec-10 4 31-Dec-10 209,784 48,946 10.63 - ttm-EPS 56.71 sen Price $ 4.56 Trailing PE  8.04x Share Price Performance    High Low Prices 1 Month 4.700   (24-Nov-11) 4.000   (10-Nov-11) Prices 3 Months 4.700   (24-Nov-11) 3.730   (26-Sep-11) Prices 12 Months 4.700   (24-Nov-11) 3.200   (15-Mar-11) Volume 12 Months 26,819   (18-Nov-11) 18   (14-Oct-11)

23-11-2011

Price RM 4.50
PE 8.72x
DY 0.89%
Market Cap RM 1,953.7m
ROE 21%

How to Cheat at Everything

HOW TO CHEAT AT EVERYTHING

Over lunch with Simon Lovell, a fascinating former card shark, Allison Schrager learns all sorts of things about how swindlers operate ...

Special to MORE INTELLIGENT LIFE

"I can spot someone's weakness a mile away. In any room I can pick out the best target," says Simon Lovell, reformed con artist and famed magician, when asked over lunch about the root of his talents.

"Take that woman over there." He motions across the room towards a lady speaking to a man engrossed in his menu--"vulnerable, needy, looking for attention from the man she is with, but he won't give it to her. She even lacks the social skills to get the waiter's attention."

"Or that man over there, over-dressed, too neat, over-confident, thinks he is too smart to be taken." He says, pointing to a middle aged man in a neat suit, with excellent posture.

"But ultimately, anyone can be conned, if you have the balls to do it."

Simon Lovell should know. He spent many years pulling cons, indulging in everything from swift bar games to more elaborate schemes. A fascination with magic as a child eventually led Mr Lovell to hone his skills as a sleight-of-hand expert, and then as a professional card cheat.

Presently, instead of subjecting people to cons, Mr Lovell stars in a one-man off-Broadway show, "Strange and Unusual Hobbies". The performance consists of a mix of comedy, anecdotes from his card-shark days and elaborate card tricks (I once saw him pull a missing card from his mouth). He's vaguely English, 50-ish, handsome (in an ageing Peter O' Toole way), and very slight--the result of a balanced diet of beer and cigarettes. With his young, blonde girlfriend in tow, he explains what it takes to be a successful con artist.

"I could sell shit at an anti-scat party," he says, "you have to figure out someone's wants and needs and convince them what you have will fill their emotional void." A con man is essentially a salesman--a remarkably good one--who excels at making people feel special and understood. A con man validates the victim's desire to believe he has an edge on other people.

It requires avid study of psychology and body language. It's an amazing paradox--a con man has incredible emotional insight, but without the burden of compassion. He must take an intense interest in other people, complete strangers, and work to understand them, yet remain detached and uninvested. That the plan is to cheat these people and ultimately confirm many of their fears cannot be of concern.

Mr Lovell draws people in by mirroring their body language. He breaks their defences by entering their physical space.

* * * * *

Con men tend to be excellent conversationalists. "Many men kissed the Blarney Stone," Mr Lovell likes to say, "a con man has swallowed it." A con man puts a victim at ease by telling a story that reveals his own rather similar anxieties, thereby forging a "mutual understanding" of sorts.

"Now you can prey on their emotions and do evil--because con men are evil, undeniably so," Mr Lovell says. He smirks, admitting pride in past cons.

Just then we are interrupted by our waiter. Mr Lovell notes his British accent, immediately parroting it. The waiter, it turns out, is from north-west London, and the conversation turns to a lively discussion of Watford football.

Once the waiter is out of sight, Mr Lovell explains: "You must have an encyclopaedic knowledge of odd bits of trivia and use these facts to win people over. "

A favourite con of Mr Lovell's is called the Cross. It is a fairly complex card trick that takes place over two or three days. "Go to a bar late at night to look for your victim," he explains. "Pick someone well-groomed, maybe a little dishevelled, but well-dressed. Someone who clearly has some money, but has something on his mind. He is vulnerable. Sit down next to him, have a few drinks, start to mirror his body language, get him talking."

As the conversation progresses, Mr Lovell will start showing the man some card tricks. "They must be really good and impressive ones," Mr Lovell warns. "After all, you have to know what you are doing."

At this point in the game he reveals that he is, in fact, a professional card cheat. A smart man will run in the other direction, but most are seduced. People love the idea of a professional swindler--they find it glamorous. They figure the world is full of suckers, but of course they are not among them. They are in on the game.

He then unloads his problems on the guy, perhaps something about a partner getting arrested for a small crime, leaving him without a partner for a big poker game the next day. The victim will then almost invariably offer to help. Mr Lovell will question his toughness, but the man will insist he can handle it. With a touch of hesitation, Mr Lovell will then offer to test the man's skill by taking him to a small game that very night. He will even put up the money.

At the game, Mr Lovell explains, he will tell the victim to go all in when he taps the table. Mr Lovell has allegedly figured out a way to determine the hand of each poker player as he deals the cards. It is a skill he spent years honing, and he displays it proudly in his one man show. (Rumour has it casinos in Las Vegas have banned Mr Lovell.) With this gentle coaching, the victim wins the pot, about $500, and is elated. He's ready for the big game the next day.

That game, of course, is for much more money--a $15,000 buy in--and the man must pay his own way. But you agree to split the pot, and the victim by this point is very excited. He is feeling special; he thinks he's in on it. The game should take place somewhere dark and illicit, maintaining the victim's illusion that he is somewhere exciting and covert. At this point he will probably start mimicking the other players, speaking like them. Non-smokers will start to smoke, feel cool.

During the game, Mr Lovell will give the signal (tap the table). The victim will have a strong hand, but someone else's at the table is better, and he loses. Mr Lovell will then storm out angry, violent even. "You blew it--you should've waited for my signal. I should have never gotten involved with such an amateur!"

The next day Mr Lovell will apologise for losing his temper. He might even invite him to another game that night. It bears noting that the money the victim earned the first night was counterfeit and everyone at both poker games is in on the con.

* * * * *

Back at lunch, our waiter returns with a complimentary round of drinks and free desserts, beaming.

At some point, Mr Lovell realised he could no longer be an effective con artist. Perhaps he pulled one Cross too many. Once, when he visited a victim the day after to "apologise", he found the man crying about his mortgage, wife and kids. Mr Lovell actually felt sorry for him. Sorry enough to return some of the money: "Not all of it. I am not an idiot. But some."

This seemed to foretell the end of something. "If you feel sorry you are dead in the water," he warns.

He stopped earning his living as a card cheat about 20 years ago, using his skills to entertain and educate the masses (and turn a buck or two) instead. He also authored a book: "How to Cheat at Everything: A Con Man Reveals the Secrets of the Esoteric Trade of Cheating, Scams, and Hustles", which documents the scams pulled by him and his friends. I gleaned enough tips from my own copy to score a free round of drinks on my own, though Mr Lovell claims he wrote it to make people more aware of tricks.

A conversation with a con man can't help but be confusing. Separating truth from fiction feels futile. Yet Mr Lovell is genuinely charming, and I admire the interest he takes in others. His flawless ability to please people--I've witnessed others grow noticeably more comfortable, even happy, in his company--has inspired me to become more thoughtful and considerate of the needs and desires of others. And I have since found that this is also an effective way of getting what I want from people.

But I would make a poor con artist. Not only am I unable to divorce myself completely from feelings of compassion, but also it is thoroughly exhausting to be deeply aware of everyone's emotions at all times. Like most people, I am far too self-involved to make it as a cheat.

Photo credit: Theresa Hong (above); Boa-sorte&Careca/flickr

(Allison Schrager is an economist based in New York. Her last column, called "Does one Abused Woman = 100 Abused Puppies?" was about the fundraising challenges faced by charities dedicated to helping battered women.)

http://moreintelligentlife.com/story/how-to-cheat-at-everything

Some light reading for the holidays.  :-)

Maybank

Market Watch

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
14-Nov-11		31-Dec-11		Other	30-Sep-11		6,074,346		1,305,861		17.20		-
22-Aug-11		30-Jun-11		4	30-Jun-11		5,720,999		1,253,222		15.54		-
12-May-11		30-Jun-11		3	31-Mar-11		5,128,082		1,186,262		15.60		-
21-Feb-11		30-Jun-11		2	31-Dec-10		5,188,639		1,126,634		15.72		-

Share Price Performance
	High   Low Prices 1 Month 8.520   (16-Nov-11) 8.060   (10-Nov-11)   Prices 3 Months 9.000   (02-Sep-11) 7.350   (26-Sep-11) Prices 12 Months 9.260   (08-Apr-11) 7.350   (26-Sep-11) Volume 12 Months 292,339   (05-Jan-11) 21,663   (25-May-11)

Fraser & Neave

Market Watch

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
04-Nov-11		30-Sep-11		4	30-Sep-11		995,462		66,207		18.44		-
05-Aug-11		30-Sep-11		3	30-Jun-11		882,475		77,851		21.70		-
05-May-11		30-Sep-11		2	31-Mar-11		1,009,468		131,988		36.80		-
07-Feb-11		30-Sep-11		1	31-Dec-10		1,028,026		107,084		0.30		-

Share Price Performance    High Low Prices 1 Month 17.700   (24-Nov-11) 16.420   (28-Oct-11) Prices 3 Months 17.700   (24-Nov-11) 15.860   (26-Sep-11) Prices 12 Months 19.800   (09-May-11) 14.800   (23-Dec-10) Volume 12 Months 14,195   (28-Feb-11) 43   (14-Mar-11)

Hong Leong Bank

Market Watch

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
26-Aug-11		30-Jun-11		4	30-Jun-11		820,792		296,600		20.42		-
10-May-11		30-Jun-11		3	31-Mar-11		577,914		289,696		19.95		-
23-Feb-11		30-Jun-11		2	31-Dec-10		603,964		291,432		20.07		-
16-Nov-10		30-Jun-11		1	30-Sep-10		539,787		257,200		17.72		-

ttm-EPS 78.16 sen
Price $ 10.2
Trailing PE 13x

Share Price Performance
	High   Low Prices 1 Month 10.840   (14-Nov-11) 10.160   (24-Nov-11)   Prices 3 Months 12.920   (26-Aug-11) 9.450   (23-Sep-11) Prices 12 Months 13.800   (11-Jul-11) 9.030   (24-Nov-10) Volume 12 Months 41,356   (27-Oct-11) 695   (13-Dec-10)

Public Bank Berhad PBB

Market Watch

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
17-Oct-11		31-Dec-11		3	30-Sep-11		3,272,466		907,897		25.66		-
25-Jul-11		31-Dec-11		2	30-Jun-11		3,170,654		891,444		25.14		-
18-Apr-11		31-Dec-11		1	31-Mar-11		2,991,607		838,629		23.63		Amended
25-Jan-11		31-Dec-10		4	31-Dec-10		2,971,194		860,095		24.16		-

ttm-EPS 98.59 sen
Price $ 12.40
Trailing PE 12.6x

Share Price Performance
	High   Low Prices 1 Month 12.800   (31-Oct-11) 12.300   (23-Nov-11)   Prices 3 Months 13.280   (02-Sep-11) 11.680   (26-Sep-11) Prices 12 Months 13.600   (06-Jan-11) 11.680   (26-Sep-11) Volume 12 Months 129,744   (04-Jan-11) 1,345   (22-Apr-11)

LPI

Market Watch

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
06-Oct-11		31-Dec-11		3	30-Sep-11		236,385		45,116		20.48		-
07-Jul-11		31-Dec-11		2	30-Jun-11		213,889		31,418		14.26		-
07-Apr-11		31-Dec-11		1	31-Mar-11		213,412		38,626		17.54		-
11-Jan-11		31-Dec-10		4	31-Dec-10		190,745		36,937		16.77		-

ttm-EPS 69.05 sen
Price $ 12.68
Trailing PE 18.4x

Share Price Performance    High   Low Prices 1 Month 13.220   (31-Oct-11) 12.660   (24-Nov-11)   Prices 3 Months 13.220   (31-Oct-11) 11.420   (26-Sep-11) Prices 12 Months 14.220   (06-Jan-11) 11.420   (26-Sep-11) Volume 12 Months 4,198   (26-Jan-11) 1   (01-Jun-11)

ESSO

Market Watch

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Amended
23-Nov-11		31-Dec-11		3	30-Sep-11		2,848,360		-37,863		-14.00		-
16-Aug-11		31-Dec-11		2	30-Jun-11		3,063,147		1,818		0.70		-
16-May-11		31-Dec-11		1	31-Mar-11		2,604,774		154,821		57.30		-
25-Feb-11		31-Dec-10		4	31-Dec-10		2,359,536		121,515		45.00		-

Share Price Performance
	High   Low Prices 1 Month 3.780   (31-Oct-11) 3.400   (24-Nov-11)   Prices 3 Months 4.040   (24-Aug-11) 3.310   (29-Sep-11) Prices 12 Months 5.970   (25-May-11) 2.730   (07-Jan-11) Volume 12 Months 137,632   (18-Aug-11) 181   (27-Dec-10)

The earnings of ESSO are very volatile.  Therefore, its cash flows are less predictable and you will need to discount its earnings and free cash flow by a bigger discount factor.